IG Group has published its interim results for the first half of the fiscal year 20222.
The global financial technology company revealed that it has registered strong performance during the six months ended in November 2021., building on the momentum it gained the previous year.
Net trading revenue rose to £471.9 million during H1 2022, up 16% compared to the same period the previous year (H1 FY21: £408.5 million). The numbers exclude the forex hedging gain that resulted from the tastytrade acquisition.
Profit before tax was up by 8% to £245.2 million compared to last year (H1 FY21: £227.8 million).
Active clients numbers stood at 320,400 reflecting the acquisition of tastytrade. This represented a 42% increase on yearly basis (H1 FY21: 225,200). 53,600 new clients acquired, lower than the previous year’s. However, the company noted that the fall was anticipated in less volatile market conditions.
This has been a period of outstanding performance with record revenues and profits. Since we launched our new strategy three years ago, the group has transformed from a UK-centric, CFD focused firm, to a global financial technology company with a multi-product trading platform.
One of the key factors behind the success of this transformation is our ‘global reach, local focus’ which allows us to act with agility to tailor our offerings. Our outstanding growth in Japan is a strong illustration of this approach.
tastytrade continuing to build momentum following the acquisition by IG Group. The online brokerage and investor education platform showed strong growth, delivering revenue of £52.8 million in the 5 months since acquisition.
June Felix continued:
The tastytrade acquisition in June 2021 brought about a step-change in our reach and product offering. Through our complementary capabilities, and buttressed by tastytrade’s award winning technology platform and compelling, distinctive educational content, IG is well positioned to take advantage of the global structural shifts toward self-directed trading and deliver continued sustainable growth.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.